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Monday, July 14, 2008

Drilling in ANWR: Like A Postage Stamp on a Tennis Court

The dysfunctional energy policy of the US Congress is the subject of today lesson by Red Planet Cartoons, and RPC zeros in like a laser beam.

Anyone wondering why U.S. energy policy is so dysfunctional need only review Congress’s recent antics. Members have debated ideas ranging from suing OPEC to the Senate’s carbon tax-and-regulation monstrosity, to a windfall profits tax on oil companies, to new punishments for “price gouging” – everything except expanding domestic energy supplies.

Amid $135 oil, it ought to be an easy, bipartisan victory to lift the political restrictions on energy exploration and production. Record-high fuel costs are hitting consumers and business like a huge tax increase. Yet the U.S. remains one of the only countries in the world that chooses as a matter of policy to lock up its natural resources. The Chinese think we’re insane and self-destructive, while the Saudis laugh all the way to the bank…--from The Wall Street Journal: $4 Gasbags

Our only comment is that "gasbags" is too nice a term for the economically-illiterate buffoons in Congress who restrict supply and castigate oil companies who won't give their products away.

Drilling in ANWR "won't produce any oil for ten years" is the Democrat mantra. Ten years ago, a little foresight would have helped ease gas prices right about now. What will it be like ten years into the future?

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